Station Casinos Prepares for IPO

by Bob Johnson 0

Station_Casinos.svgStation Casinos, which operates 19 large and small casinos in the Las Vegas Valley — including four with bowling centers — has filed papers with the Securities and Exchange Commission for an initial public offering.

The Las Vegas Review-Journal reported that no timetable had been announced for the IPO, but that the goal was to raise $100 million through the stock sale.

Meanwhile, Station Casinos also has put a 57-acre piece of property fronting Las Vegas Boulevard, south of the South Point Casino, up for sale. The asking price: $40 million. One of the sale requirements is that the land may not be used for gaming.

Station Casinos owns six “gaming-entitled development sites” around the valley, including a 30-acre plot that formerly was home to the Showboat Hotel, Casino and (106-lane) Bowling Center.

Company properties that presently house bowling centers are Sunset Station, Santa Fe Station, Texas Station and Red Rock.

Bob Johnson

Bob Johnson has received more national writing awards than any other bowling writer — close to 70 over the course of his 40-year career. He began at age 16 as a staff writer and then assistant editor for the weekly Pacific Bowler newspaper in his native California, and within three years was writing feature stories for Bowlers Journal. He has written for the magazine ever since, except for a five-year span when he was hired as the founding editor of another magazine. He moved to Chicago in 2000 and spent 13 years in the Windy City, including five as Bowlers Journal’s Editor. In 1975, Johnson received the Robert E. Kennedy Award as California’s top undergraduate high school journalist. Five years earlier, on the lanes, he had shared the Bantam Division Doubles championship in the Orange County Junior Bowling Association Championships. Today, he continues to work full-time for Bowlers Journal as its Senior Editor, to write his popular “Strikes Me” column, and to edit Luby Publishing Inc.’s weekly business-to-business Cyber Report.

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